External broker reports(aggregated public sources), MNC Sekuritas

MNC Sekuritas

MNC Sekuritas, the first wholly-owned subsidiary established by the Group back in 1989, provides a complete range of services, from equity, fixed income, investment banking to providing research to optimize clients’ investments. Thus far, the company has more than 140 points of sales with over 100,000 clients. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>SIDO booked revenue of IDR1.8 tn in 1H25 (-3.6% YoY), supported by a strong rebound in 2Q25 of +29.4% QoQ/+23.3% YoY to IDR1.0 tn, recovering from the early Lebaran impact and distribution shift that weighed on sales in 1Q25.</li><li>This 1H25 figure missed our/consensus FY25E estimates at 45.7%/45.6%.</li><li>By segment in 1H25, Herbal Medicine &amp; Supplement posted IDR1.1 tn (-3.1% YoY), yet on quarterly basis rebounding sharply in 2Q25 to IDR416.7 bn (+97.3% QoQ/+47.2% YoY) on the back of volume recovery and the extended rainy season (kemarau basah), which increased flu incidence and boosted demand for cold symptom remedies as well as essentials oil, Esemag, and Tolak Linu. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

SIDO booked revenue of IDR1.8 tn in 1H25 (-3.6% YoY), supported by a strong rebound in 2Q25 of +29.4% QoQ/+23.3% YoY to IDR1.0 tn, recovering from the early Lebaran impact and distribution shift that weighed on sales in 1Q25.This 1H25 figure missed our/consensus FY25E estimates at 45.7%/45.6%.By segment in 1H25, Herbal Medicine &amp; Supplement posted IDR1.1 tn (-3.1% YoY), yet on quarterly basis rebounding sharply in 2Q25 to IDR416.7 bn (+97.3% QoQ/+47.2% YoY) on the back of volume recovery and the extended rainy season (kemarau basah), which increased flu incidence and boosted demand for cold symptom remedies as well as essentials oil, Esemag, and Tolak Linu. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIDO Muncul (SIDO IJ) - 2Q25 Herbal Recovery Helped 1H25 Performance

Sido Muncul

SIDO Muncul (SIDO IJ) - 2Q25 Herbal Recovery Helped 1H25 Performance